A trader put in the biggest order of block trade yesterday - 34,532 option contract October $16 Put on Morgan Stanley. This would give the right to sell 3,453,200 shares of MS stock at $16, but the company hasn't closed below $16 since 2009. The MS Sept $20 Put was already one of the most traded equity contracts, with this block trade, it is increasing the option price by approx 62%. I understand that the market has been going down for the past 9 days, - not counting today since we still got 10min. to market close, but having someone doing a downside hedge like this isn't going to help. Really? does he/she needs to be sooo nervous?!

Anyways, I am very pleased to say that I've made new friends this week, and also reconnected with old friends from school. I finally understand why things happen for a reason, in the right place, right time!

Happy Wednesday!